Banco Santander, S.A. (SAN) Upgraded as Kepler Revamps Valuation Methodology

Group 1 - Banco Santander, S.A. (NYSE:SAN) has been upgraded to Buy from Hold by Kepler Cheuvreux, with a new price target raised from EUR8.81 to EUR12.40, reflecting a more accurate valuation methodology that considers technology's impact [1] - Kepler Cheuvreux forecasts a 20% Return on Tangible Equity (RoTE) for Banco Santander by 2029, indicating strong future profitability [1] - For the financial period of 2025-26, share buybacks are expected to reach EUR12.4 billion, exceeding the bank's initial target by 25%, which addresses previous valuation gaps [2] Group 2 - The consensus among analysts is a Buy for Banco Santander, with 82% bullish and 18% cautious, indicating strong market confidence [3] - The consensus 1-year median price target suggests a 4.01% upside, with the highest estimate indicating a 17.28% upside and the lowest suggesting a 20.73% downside [3] Group 3 - Banco Santander, headquartered in Madrid, Spain, offers a wide range of financial products and services across five segments, including Retail & Commercial Banking, Wealth Management & Insurance, and Payments [4]